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More on the Chancellors Review on Budget highlights

Personal allowance As previously announced, the personal allowance remains at £12,570 for 2022/23. The allowance is reduced by £1 for every £2 by which adjusted net income exceeds £100,000. This means that where income exceeds £125,140, the personal allowance is lost in its entirety. Rates and bands The basic rate remains at 20%, the higher…Read More

National Insurance rises and the Health and Social Care Levy

On 8 September 2021, the Prime Minister outlined the Government’s plans for health and social care, including a new funding strategy designed to meet social care costs. A new tax, the Health and Social Care Levy, is to be introduced from 2023. However, as a temporary measure prior to its introduction, National Insurance contributions will…Read More

Limited Company Blog New

Welcome to our new blog section for limited companies – on here we will provide you with upto date information in respect of limited companies and how tax changes might affect you and planning ideas. We have created a new team at broadbents which can support you with any questions you have in respect of…Read More

Lets make tax digital!

In 2024, all sole traders, partners and partnerships will have to do their tax and accounting digitally through Quickbooks. There will be various opportunities for each of our clients to start the process of becoming digital in time for 2024, Quickbooks will host the training sessions online. At the moment we are still discussing some…Read More

Employer webinars from the Equality Commission

With their employer training programme currently suspended due to the ongoing coronavirus pandemic, the Equality Commission are now providing a number of training sessions as online webinars. These will focus on a number of issues for employers. Topics include an introduction to understanding equality in the workplace, promoting sex equality, people with disabilities, employees with…Read More

Tax Investigation Insurance / Fee Protection

If HMRC decide to investigate your tax or your corporation tax, you or the company must co-operate with them, and let your accountant know ASAP. Even though HMRC randomly select who they are investigating, you must let your accountant know and ask them to gather all the information to pass to HMRC. However, your accountant…Read More

Help to Grow: Digital

Help to Grow: Digital is a new UK-wide scheme to help small and medium size businesses (SMEs) adopt digital technologies that are proven to increase their productivity. The scheme will offer SMEs free and impartial advice on how technology can help their business. An online platform will help them to: identify their digital technology needs assess technology…Read More

Grants of up to £15,000 available to Social Entrepreneurs

Grants of up to £15,000 plus business support are available to social entrepreneurs that are looking to start or grow an existing social venture; the funding is being made available through the UnLtd. UnLtd are committed to providing 50% of their awards to Black, Asian and minority ethnic social entrepreneurs, and/or disabled social entrepreneurs. To…Read More

Off-Payroll Working – Will HMRC accept CEST result?

Since 6 April 2021 large and medium-sized organisations, based on the Companies Act criteria, have had to determine whether or not a worker supplying his services via their own personal service company would be treated as an employee if directly engaged. This replaced the IR35 rules for these larger organisations. HMRC suggest organisations use their…Read More

Self-Employment Income Support Scheme (SEISS) update

The claims service for the fifth SEISS grant will open from late July. In the meantime, here is the latest SEISS update from HMRC. Personal claim dates Shortly HMRC will be contacting every customer who may be eligible for the fifth grant, to tell them their personal claim date. Customers can claim from this date…Read More

Eviction protection extended for businesses most in need

Businesses that have had to remain closed during the pandemic and are unable to pay rent on their commercial property will continue to be protected from eviction, giving them the breathing space they need and helping to protect jobs, the government has announced. In order to give places such as nightclubs and other hospitality businesses…Read More

Kickstart Scheme grant

If you are an employer looking to create jobs for young people, you can apply for funding as part of the Kickstart Scheme. The Kickstart Scheme provides funding to create new jobs for 16 to 24-year-olds on Universal Credit who are at risk of long-term unemployment. Employers of all sizes can apply for funding which…Read More

Updated information regarding Payroll

We have now moved all of our clients onto Brightpay for Payroll, this means that there will be no wage slips, CIS statements or Tax & NI letters each month, if you have not been put onto our Brightpay system please contact our office and we will resolve this, or if you are having any…Read More

Coronavirus update, Furlough

As it currently stands, furlough payments are given at 80% of your usual wage however, with the government slowly reducing all restrictions and trying to bring back a bit of normality, furlough is going to be reduced to 70% from the 1st July 2021. If you have any queries regarding this change, please don’t hesitate…Read More

Reminder – P11D Forms due by 6 July

Despite the coronavirus lockdowns, HMRC still expect P11D forms reporting expenses and benefits to be submitted by the normal 6 July deadline. Employers need to submit a P11D form to HMRC for each employee you’ve provided with expenses or benefits. Employers also need to submit a P11D(b) form if: You have submitted any P11D forms…Read More

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